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Analysis for January 21st, 2015

EUR USD, “Euro vs US Dollar”

As we can see at the H4 chart, Eurodollar continues moving inside a descending channel and forming a consolidation channel. We think, today the price may continue falling to reach level of 1.1120. After that, the pair may try form another consolidation channel and then continue moving downwards.

GBP USD, “Great Britain Pound vs US Dollar”

As we can see at the H1 chart, Pound has completed an ascending structure as the fourth wave. We think, today the price may form another descending structure to reach level of 1.5040 and then grow towards level of 1.5295. An alternative scenario implies that the pair may move upwards to reach level of 1.5295 without making any descending movement. The next target is at level of 1.4870.

USD CHF, “US Dollar vs Swiss Franc”

As we can see at the weekly chart, Franc is still consolidating. We think, today the price may continue moving inside the downtrend. The next target is at level of 0.8200.

USD JPY, “US Dollar vs Japanese Yen”

As we can see at the H1 chart, Yen has completed an ascending wave and right now is moving inside the downtrend again. We think, today the price may reach level of 116.85 and then start consolidating. If the market breaks this consolidation channel downwards, the pair may start falling to reach level of 115.00.

AUD USD, “Australian Dollar vs US Dollar”

As we can see at the H4 chart, Australian Dollar is still consolidating in the middle of its ascending wave. We think, today the price may reach level of 0.8130. After that, the market may form another ascending structure to reach level of 0.8325 and then continue falling inside the downtrend towards the target at level of 0.7940.

USD RUB, “US Dollar vs Russian Ruble”

As we can see at the H1 chart, Ruble continues moving quite steady and forming a consolidation channel. We think, today the price may break the channel and fall towards level of 55.00. This movement may be considered as a part of a descending wave with the target at level of 44.00.

XAU USD, “Gold vs US Dollar”

As we can see at the H4 chart, Gold is attempting to extend its ascending wave. We think, today the price may break its ascending channel downwards. The main downside target is at level of 1113.

Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.